Wuling Motors Has Formed the Export Layout of Three Major Developed Markets of the United States, Japan, and Europe

Monday, 19 June 2023, 15:28 HKT/SGT

HONG KONG, June 19, 2023 - (ACN Newswire) - Wuling Motors (00305.HK) has once again expanded the new energy business of a city and deeply participated in global competition!

On June 8, 2023, Liuzhou Wuling New Energy Automobile Co., Ltd. (hereinafter referred to as "Wuling New Energy"), the associated company of Wuling Motors, held the E-BOX M Release Ceremony of Cooperation Project and the First Batch Delivery to Europe with FEST Europe. The first batch of new energy battery electric logistics vehicles developed and produced by Wuling New Energy were officially delivered to FEST and entered the European market.

It is reported that the E-BOX M pure electric logistics vehicle of Wuling Motors has passed the EU E-mark certification for complete vehicles and parts, and obtained the WVTA certificate. The vehicles are equipped with efficient motors and high-performance batteries according to the targeted needs of the European market. It is powerful, lightweight and durable, and offers lasting performance. Meanwhile, it has a large loading space and can run fast, fully meeting the distribution needs of local warehousing and distribution in Europe and urban end logistics. At the same time, it is environmentally friendly and economical, which can save 3,972 euros per year while reducing carbon dioxide emissions.

In the past decades, overseas markets have been dominated by European, American, and Japanese brands for a long time. However, with the rapid rise of China's new energy vehicle brands, brand barriers in overseas markets are gradually breaking down. This is also confirmed by the increase and growth speed of China's new energy vehicle overseas sales in recent years. The overseas market contains huge market potential, which is a market from 0 to 1, and also a very good opportunity for the globalization of China's automobile brands.

Facing the tide of the times, Yuan Zhijun, Chairman of board of directors of Wuling Motors, said that the Group will seize the opportunity of transformation to new energy and accelerate the development of new energy vehicle industry. Especially through investment in Wuling New Energy, the Group's new energy vehicle business segment will be built to accelerate development.

As an important layout of Wuling Motors in the new energy vehicle industry, Wuling New Energy has advanced and large-scale production facilities covering an area of about 550,000 square meters. It adopts advanced technology construction in China's automobile industry and installs advanced automatic production line to carry out welding, painting, final assembly, and other production procedures required for producing new energy vehicles, with an annual capacity of 200,000 units.

With the continuous improvement of Wuling Motors' technical level and insight into user needs, Wuling Motors' related new energy vehicle products have also been unanimously recognized and have entered the market of traditional automobile powers for many times.

For example, as early as September 26, 2021, more than 130 Wuling EV50 new energy logistics vehicles were shipped to North America at Yantai Port. The first "going global" won a good reputation in developed countries, which also became the first successful demonstration of China's logistics vehicle products "going global".

In January 2022, a cooperation framework agreement was signed with Japan ASF at the RCEP Business Leaders Forum, which opened RCEP's first batch of Guangxi orders. On February 28 this year, the project was officially launched and the first batch of products were officially delivered in batches, successfully achieving mass production and launching, and moving towards the goal of 100,000 vehicles within 5 years. This is also the first time that Guangxi's new energy vehicles have been sold in Japan.

In August 2022, Wuling New Energy signed a cooperation framework with FEST to give full play to its rich vehicle manufacturing experience and manufacturing advantages in the whole supply chain according to the needs of the European market and FEST, so as to rapidly promote project cooperation. On June 8, 2023, Wuling New Energy successfully delivered the first batch of vehicles ordered and officially released E-BOX M to the world. Earlier, when E-BOX M was promoted in Europe, it received a strong response from overseas markets. Many world-class enterprises including Amazon, Coca-Cola, Carrefour, France Post, and Chile Post paid attention to this product.

Yuan Zhijun said that at present, Wuling Motors has formed an export mode of three major economically developed markets of the United States, Japan, and Europe, which lays a good foundation for its products to go global. As an important participant in the production and consumption market of new energy vehicles, Wuling Motors will also closely follow the China's "dual carbon" goal policies and market trends, continue to increase the layout of the new energy vehicle industry, and continuously invest in R&D production capacity. It is hoped that with continuous efforts, the proportion of Wuling Motors' new energy business will further increase and eventually reach 50%. Of course, to achieve such a goal, it is also necessary to work with more overseas partners to jointly promote the popularization of new energy vehicles worldwide.

Topic: Press release summary Sectors: Automotive
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